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CHANGE OF RIGHTS RATIO TO DETERMINE RIGHTS ENTITLEMENT – BANK SOHAR

CHANGE OF RIGHTS RATIO TO DETERMINE RIGHTS ENTITLEMENT – BANK SOHAR
Sohar International
BKSB
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At the AGM of Bank Sohar, held on 29th March 2015, the shareholders of Bank Sohar approved distribution of stock dividends at the rate of 6% of capital (6 shares for every 100 shares). Consequent to this, there will be a corresponding change in the Rights Ratio to determine eligibility for the rights shares. The Rights Ratio as disclosed on Feb 16, 2015 was 1 Rights for every 5 shares held. This now stands changed to 1 Rights for every 5.3 shares held. The change in the ratio is to ensure that the Rights Issue size of approximately OMR 40 million (inclusive of share premium and issue expenses) originally envisaged by the Board of Directors, does not change.